It had a deep and long-lasting impact on the economic and political development of several Latin American countries. Critics often accused it of exploitative neocolonialism

Neocolonialism

Neocolonialism is the practice of using capitalism, globalization, and cultural forces to control a country in lieu of direct military or political control...

 and described it as the archetypal example of the influence of a multinational corporation on the internal politics of the banana republics (a term coined by O. Henry

O. Henry

O. Henry was the pen name of the American writer William Sydney Porter . O. Henry's short stories are well known for their wit, wordplay, warm characterization and clever twist endings.-Early life:...

). After a period of financial decline, United Fruit was merged with Eli M. Black

Eli M. Black

E. M. Black was a Jewish-American businessman who controlled the United Brands Company. His son, Leon Black, is a founding member of private equity firm Apollo Management.-Early life:...

's AMK in 1970 to become the United Brands Company.